Doctor Mordrid (1992) - IMDb
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Doctor Mordrid: Directed by Albert Band, Charles Band. With Jeffrey Combs, Yvette Nipar, Jay Acovone, Keith Coulouris. An unspeakable evil has come into our dimension and wants to rule over Earth, and only a mysterious sorceror known as Doctor Mordrid can stop him.

This movie was originally conceived as an adaptation for the Marvel Comics character Dr. Strange, also known as the Master of the Mystic Arts. Somewhere along the way, the rights to the name were lost and the script was re-written, which is how they could make it R-rated. The character Dr. Strange was previously adapted as a TV movie in 1978 and later as a big budget feature film in 2016.